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Key Concepts: Open Component is a feature of SAP Concur that allows users to access and manage their business expenses in one place. It provides a single platform for managing all of a company’s expenses, from travel and entertainment to corporate cards and invoices. Open Component also allows users to easily track their spending, set up budgets, and generate reports. How to use it: Open Component can be accessed through the SAP Concur mobile app or web portal. Once logged in, users can view their expenses, create budgets, and generate reports. They can also add new expenses, edit existing ones, and delete them if necessary. Additionally, users can set up notifications to be alerted when certain spending thresholds are reached. Tips & Tricks: When using Open Component, it is important to keep track of all expenses and ensure that they are properly categorized. This will help ensure that the budget is accurate and that reports are generated correctly. Additionally, setting up notifications can help users stay on top of their spending and avoid overspending. Related Information: For more information about Open Component, please visit the SAP Concur website or contact your company’s SAP Concur representative. Additionally, there are many online resources available that provide tips and tricks for using Open Component effectively.